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Citigroup (C) Gains As Market Dips: What You Should Know
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Citigroup (C - Free Report) closed at $45.74 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Prior to today's trading, shares of the U.S. bank had lost 5.65% over the past month. This has lagged the Finance sector's gain of 1.66% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be July 14, 2023. In that report, analysts expect Citigroup to post earnings of $1.45 per share. This would mark a year-over-year decline of 36.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.67 billion, up 0.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.01 per share and revenue of $79.27 billion. These totals would mark changes of -15.47% and +5.22%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Citigroup. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.59% lower. Citigroup currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Citigroup has a Forward P/E ratio of 7.55 right now. Its industry sports an average Forward P/E of 8, so we one might conclude that Citigroup is trading at a discount comparatively.
We can also see that C currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.27 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.
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Citigroup (C) Gains As Market Dips: What You Should Know
Citigroup (C - Free Report) closed at $45.74 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Prior to today's trading, shares of the U.S. bank had lost 5.65% over the past month. This has lagged the Finance sector's gain of 1.66% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be July 14, 2023. In that report, analysts expect Citigroup to post earnings of $1.45 per share. This would mark a year-over-year decline of 36.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.67 billion, up 0.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.01 per share and revenue of $79.27 billion. These totals would mark changes of -15.47% and +5.22%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Citigroup. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.59% lower. Citigroup currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Citigroup has a Forward P/E ratio of 7.55 right now. Its industry sports an average Forward P/E of 8, so we one might conclude that Citigroup is trading at a discount comparatively.
We can also see that C currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.27 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.